T. Rowe Price Investment Management Inc. Purchases 63,000 Shares of Braze, Inc. (NASDAQ:BRZE)

T. Rowe Price Investment Management Inc. boosted its stake in Braze, Inc. (NASDAQ:BRZE - Free Report) by 2.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,693,357 shares of the company's stock after buying an additional 63,000 shares during the period. T. Rowe Price Investment Management Inc. owned 2.60% of Braze worth $112,798,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in BRZE. Price T Rowe Associates Inc. MD boosted its holdings in Braze by 121.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,197,407 shares of the company's stock worth $92,028,000 after buying an additional 1,203,149 shares in the last quarter. Hsbc Holdings PLC lifted its position in shares of Braze by 126.6% in the fourth quarter. Hsbc Holdings PLC now owns 17,844 shares of the company's stock worth $750,000 after purchasing an additional 9,970 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Braze by 168.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 646 shares of the company's stock valued at $27,000 after acquiring an additional 405 shares in the last quarter. MetLife Investment Management LLC raised its stake in shares of Braze by 6.8% during the 4th quarter. MetLife Investment Management LLC now owns 40,216 shares of the company's stock worth $1,684,000 after purchasing an additional 2,572 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in shares of Braze by 56.2% during the 4th quarter. Canada Pension Plan Investment Board now owns 173,700 shares of the company's stock worth $7,275,000 after purchasing an additional 62,500 shares during the last quarter. 90.47% of the stock is owned by institutional investors and hedge funds.

Braze Stock Down 1.1 %

Shares of Braze stock traded down $0.34 during trading on Wednesday, reaching $31.21. 172,290 shares of the company were exchanged, compared to its average volume of 1,234,156. The firm has a market capitalization of $3.27 billion, a price-to-earnings ratio of -27.37 and a beta of 1.13. Braze, Inc. has a twelve month low of $27.45 and a twelve month high of $48.33. The business has a 50-day moving average price of $33.63 and a 200-day moving average price of $37.62.

Braze (NASDAQ:BRZE - Get Free Report) last posted its earnings results on Thursday, March 27th. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.07. Braze had a negative return on equity of 24.88% and a negative net margin of 20.41%. The firm had revenue of $160.40 million for the quarter, compared to analyst estimates of $155.72 million. During the same period in the previous year, the company posted ($0.04) earnings per share. The company's revenue for the quarter was up 22.4% on a year-over-year basis. On average, equities research analysts forecast that Braze, Inc. will post -0.98 EPS for the current fiscal year.

Insider Activity at Braze

In other Braze news, General Counsel Susan Wiseman sold 4,167 shares of the firm's stock in a transaction on Friday, April 4th. The stock was sold at an average price of $30.98, for a total transaction of $129,093.66. Following the completion of the sale, the general counsel now owns 248,999 shares of the company's stock, valued at $7,713,989.02. This trade represents a 1.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William Magnuson sold 18,050 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $40.82, for a total transaction of $736,801.00. Following the completion of the transaction, the chief executive officer now owns 564,766 shares in the company, valued at approximately $23,053,748.12. This trade represents a 3.10 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 55,937 shares of company stock valued at $2,235,381. 24.03% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

BRZE has been the subject of several recent analyst reports. Wells Fargo & Company decreased their target price on Braze from $55.00 to $40.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Canaccord Genuity Group upped their price objective on shares of Braze from $45.00 to $50.00 and gave the company a "buy" rating in a research report on Friday, March 28th. Needham & Company LLC restated a "buy" rating and set a $50.00 price target on shares of Braze in a research note on Friday, March 28th. Stifel Nicolaus set a $50.00 price objective on Braze and gave the stock a "buy" rating in a report on Friday, March 28th. Finally, Piper Sandler cut their target price on Braze from $48.00 to $38.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. One research analyst has rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $51.25.

About Braze

Braze, Inc operates a customer engagement platform that provides interactions between consumers and brands worldwide. The company offers Braze software development kits that automatically manage data ingestion and deliver mobile and web notifications, in-application/in-browser interstitial messages, and content cards; REST API that can be used to import or export data or to trigger workflows between Braze and brands' existing technology stacks; Partner Data Integrations, which allow brands to sync user cohorts from partners; Data Transformation, in which brands can programmatically sync and transform user data; and Braze Cloud Data Ingestion that enables brands to harness their customer data.